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When it comes to Millennials’ reluctance to get hitched, it isn’t just parents throwing their hands up in despair. The diamond industry has been befuddled, too, with seven leading companies throwing in together on a new marketing campaign intended to win over those casual Gen Y kids. Sarah Mahoney on MediaPost analyzes the forces in play in this quixotic group.
Last year, a group of leading diamond-mining companies, including industry leader De Beers, formed an alliance called the Diamond Producers Association, with an initial budget of $6 million. And while the new campaign, themed “Real is Rare,” isn’t scheduled to break until the fall, agency Mother New York is unveiling some of the research that guided the marketing effort.